Chris The Insurance Guy! OMGGGG! Love ur vids. Been wanting to start my business for a while, and you made me take the leap! My life is changed forever thanks to YOU!!! Made my first MILL in 1 year!!!!! Cabo trip on me ;)
dude your video was awesome,today i bought my E&O,Surety bond and i have my p&c,i still need a location currently looking,not much money to start it up but honestly man as soon as i was done watching your video i bought everything,i already had it in mind for the past week and your video just confirmed it...so thanks man,thank you for taking the time to even make this video
Hi Chris, I run a business where we do the marketing and sales. We typically partner with a certain type of business and just take a % on the backend. Debating on branching out into a different industry. We have all of the framework that will help us cut a learning curve down tremendously. What are your thoughts about moving in this industry based in this?
Kyle Kotecha Hey Kyle, if you’re good at what you do with marketing and sales then you will love the insurance industry. That’s basically the main parts of what drives a successful agency in my opinion. Definitely worth considering jumping in!
Hello I started a new agency and trying to find a carriers for commercial trucking . How do you get set up with them we currently have 50-100 people a month asking for insurance through our dealership and through or finance company ..
Trucking carriers are mostly through non standard markets. The only good ones I know of that write trucking are AIG and Progressive which you might be able to get directly depending on which state you’re in
What’s up man. I am killing it right now am going to break 6 figures this year my first year as a p & c agent. I’ve been thinking about starting my own agency and really maximizing these commissions.
Dude that’s amazing! Just make sure running the agency is something you want to take on. It’s a bit of a different dynamic than just selling policies (servicing, hiring, training, accounting, marketing, etc). I’m sure you’ll crush if you decide to make the leap. Keep it up man!
Chris, love your vids. If you've talked about this before point me to the episode but would like your thoughts on We franchise or any insurance franchise versus an Alliance. Thanks in advance!
I have not talked specifically about that but I did do a video with a State Farm agent that dives into it a bit. The major difference is the freedom of being independent with an alliance. Franchises like State Farm or Farmers have a lot of restrictions. Here's the video, hopefully it helps! ua-cam.com/video/sI902_yqJzg/v-deo.html
Hi, when you say appointment. Do you mean, you work under a specific label? Or just generally your license allows you to make/tailor your own products?
Hi Chris - great video. Just subscribed. I have a very deep background in corporate finance and capital markets. I've worked with and sold insurance products over the years as they relate to wealth management. I'm an MBA and currently a CFA Level II candidate. My question is, do you recommend any particular niche industries or segments to pursue for someone with a corp finance/capital markets/CFA charter? Thanks
The riches are in the niches! It really depends which area of corporate finance. Maybe focusing on professional liability for lawyers, doctors, engineers, etc? Those commercial premiums can be pretty big and very lucrative if you can tap in, especially if you already have that client base. Otherwise I'd suggest trucking industry since premiums are huge.
Hey Chris, be crazy if you respond to this old of a video, but I'm a doctor looking to help with the health insurance issue in the U.S. First, I want to do auto insurance for something simpler before jumping into health. I don't want to sell someone else's product, so I've got a million liquid cash I want to use for the pool that claims would come out of. Besides getting a license "Property and Casualty" and then getting that approved at the Department of Insurance is that if for me to start writing up policies passing em by the lawyers and then selling them?
Hi Chris, your information is what I was looking for. I have my p&c license for 2 years now, but never worked for any agency, I am thinking to open my own independent agency. we do taxes at my office and I do have many clients interested on insurance. My questions is... do the insurance companies pay you depending on experience or if there any chart I can use to negotiate/calculate payments from them. also someone mentioned they'll ask me for a good business plan. I am in North Carolina. Thank you.
@@TheMbc1974 Hi. could you please share the information you obtained? I have been in the insurance industry for 3 years now, working for independent agencies but now I want to have my own.
So sorry for the late response Miguel. The answer is yes and no. Insurance companies don't typically pay you based on experience. Although, some agents who have been appointed/contracted with a company for many years (20+ years) sometimes have better commission %s than newly appointed agents. I've seen some getting 15% for auto and home, when I'm only getting 10%. I believe you can negotiate but you will need some type of leverage.
I’m confused man, so I’ve been writing life insurance for 2 years under an imo. I write a lot and have done well. I already have my e&o and bond and license. So, when you say “appointments” with the carriers, so you mean the same thing as if I went on my own to try to get contracted? Do I automatically make a full 140-150% commission for myself now that I have created my own imo? How does that work?
Yes at this point there’s nothing stopping you from going directly to the carrier and getting a direct appointment which will make u full commissions. You may just need to create a business entity and get a business entity license # with the department of insurance. Hope that helps! Feel free to email me or set up a consult call if you want more guidance down the road
@@christheinsuranceguy one last question, so if I go direct to the carriers after I make a business entity, and say it’s just me (I haven’t brought any other agents on yet), the carriers will magically give me full commissions merely because I created a business entity? Do they not need to see certain criteria first like a certain size book of business, certain number of agents, etc.?
Hello! I have been working with an agent for a long over a year. I have my P&C license but I really would like to open my independent agency. I understand getting errors and omission, but I’m lost in what is needed next! I’m from Texas and I was looking into supremely access for my independent agency what do you recommend? I like working for myself and would like my own instead business.
Hi Frances, that's awesome! There are a few steps you need to get going. Email me and I'll send you my eBook that gives you a step by step. Main things you need are: a business license, E&O coverage, Broker Bond (depending on the state), and an appointment (which is hard to get). I'd recommend checking out some alliances/clusters to help give you access. My email is Chris@adelfiainsurance.com
Kevin Blanc yes you also need the agency license if which you can apply to through the department of insurance. It’s usually around $300 I believe (might be different depending on the state)
Good video. I’ve came into the insurance business with this intention. I live in Louisiana and I’ve had a year of success as the number one agent in my company while somehow and very simultaneously getting my teeth kicked in lol. Are you familiar with any of the steps that Louisiana would require?
It sounds like you want to start an insurance company or “carrier”. This means that you’re going to pay out if there is a claim. Is that what you want to do? Or do you just want to be an agent who sells products of other companies?
@@christheinsuranceguy correct, carrier. As an agent you have no real power. Probably make great money but if you have all of this knowledge, why not startup your own carrier?
@@christheinsuranceguy maybe start smaller with smaller claims - health insurance or something, not sure. It sounds like with all industries, the game is rigged, and banks remain in control. Have you ever tried to write a bond to back your loans and lines with the collateral as the business itself? There are ways to get heavy capital but yeah you would have to start small and build to a PUBLIC company and then have investors come in. Still a rigged game.
Hi Tara, most major carriers typically prefer that you have an office/storefront. I think things have changed a bit since covid though. The smaller carriers probably have more leniency
In the trading world. Your insurance is your SL where you stop out of the markets. Any losses the banks or firms take are on them. There is no backup plan to losing millions when trading.
I know its hard to say but a ballpark estimate would be great if anyone can help , but the question i have is working from home vs having a physical address can you expect to make the same amount of money or which one would y’all think has the advantage
houstonpromotion I’m probably biased because I got myself an office immediately when I launched my agency but I believe it has allowed me to grow faster and be more efficient with work schedule. I don’t think an office will make you more sales it’s more about the efficiency and mindset. I think a small office is worth the money!
I'm not sure if I completely understand the question. My suggestion is to build out as much automation as possible to free up your time and allow you to focus on tasks that are impossible to automate (like personal touch on customer service or closing a large deal).
Rogelio Barraza that’s interesting. I believe that we’re shifting heavily into digital presence and a majority of people just Google insurance or see advertisements online
@@christheinsuranceguy I want to join siaa but for some reason I got denied . According to your videos you worked or still working with siaa Do you know anyone that I can contact?
@@christheinsuranceguy so is this to basically contract directly to the carrier? I thought you needed to write massive amounts of business to be contracted directly
Felicia Berry hi Felicia, that’s a great question. You do not need a CPCU to open an independent agency. You will just need the state license and the other requirements to get appointed.
Hi Chris, so i have my insurance broker licenses, i now want to open my own agency and get appointed with companies. i have a s corp partnership setup, im a licensed owner but my partner is not licensed. do i need to file paperwork for my dba first, or purchase e/o insurance first? whats the next step i need to do?
I would purchase E&O insurance next and then get the appointment process started with the carriers that you want. The appointment process can be a bit challenging considering it’s a new agency and carriers like to see some volume on your book of business before giving out an appointment. I recommend watching the video I made about getting a carrier appointment
Hi Chris really enjoyed your video, I will be purchasing a computer/ laptop for my agency what size memory etc. do you recommend? I hope to have a least a few appointments to start. Thanks
Frank de Ferrante Hey Frank, if you’re the agency owner I’d suggest getting a good laptop this way you can work from anywhere. I use a MacBook Pro and for the most part it has been pretty compatible with all systems so far
I need to know how to launch a new type of insurance I thought of that is not a type already on the market. Any ideas on a starting point? Ide assume I need to apply with a federal agency for approval. I know I would need to create documents like regulations, liability etc but my idea could bring in over 18.6 billion a month in American alone.
That’s a great question. I don’t know the exact answer but my intuition says you should reach out to high level corporate executives at small/medium sized carriers. They would likely be the ones who are willing to add new products. The larger carriers would probably be hesitant. Also take a look at non-standard carriers. They will be the most willing to assume the new risk.
Frank de Ferrante yes next step would be to get appointed with a company to sell their products. This requires an E&O policy and a few other things mentioned in the video
Very helpful info for a starter. Im starting to save i want to open up my own agency ive seen some office spaces for about 49 a month but havent inquirred about it lol. Anywho, my question is how much is the bond? And what exactly is it for? I know as a license agent i should totallllly know haha
Office spaces for 49 a month sounds like a steal! Where are you located haha? The bond is fairly cheap, I think $100-200/year. I'd Google it to get more details but this is what I found: "A surety bond is meant to safeguard consumers against brokers who operate in a fraudulent and/or unethical manner. When a broker violates the law, a client can make a claim against the bond and if it’s found to be valid, the client will be compensated." Hope that helps!
Thank you so much! It toally did. I believe it may be a virtual office from what ive investigated but not 100 on it. Im located in California about 20 minutes from LA. Thank you so mich for your response appreciate the prompt response. Looking forward to more content! 😁
Hey chris! Hope you arent too busy to offer me some advice. Ill get right to it, im seeking a new job. I am currently employed in an independent agency. Went to an interview today and it went great. Seems i havethe job if i want it. Heres the catch, id basically be an independent contractor through them, the pay is 50% from broker fees plus policy premium commission which as u know varies. Do you think its a good move for me? I do want to open up my own agency but from what ive seen i need to fix my credit first and foremost which is what im working on now. I just dont know if this is a good move for me and have nobody to talk to about it that could possibly give me some intake... haaalp as always your time and intake is most appreciated 😃😃😃 please give me advice!! Lol
Alejandra Orozco Hi Alejandra! I’m happy to give you my input :) it would really depend on a few things. I think some things to consider for the new job is the agency culture, the support they’re giving you with leads and closing deals, and obviously how much they’re offering for a commission split on premiums. Im not a huge fan of broker fees! As far as starting your own agency, it doesn’t require a ton of capital so if you’re willing to roll up your sleeves and get down in the trenches for a year or two, you can make it work (it’s definitely a grind lol). I hope that helps. Let me know if you have more specific questions about splits or culture and stuff!
Chris The Insurance Guy The agencyitself looksvery independent theydo provide leads the rater system emails and all thatgood stuff. I guess what im mostly worried about is the tax stuff and how much i will owe at the end of the year 😣 i would like to start my own agency i was thinkingof starting up working from home but not sure companies would give me apointments that way but you never know untilypu try right? Im determined to be a buisness owner eventually. Thank you for your intake !! :)
Think about starting my own agency i have the license for p& and L & H. I have been working as an agent for someone else but I'm ready help please to take the next step to jump in
I'm a entrepreneur and small business owner....I have stumbled across a niche market that I would like to develop an insurance product for...any advice where to start?
Joe Woodfin Hi Joe it seems like you’re looking to be the actual insurer. This is different than being the agency/broker. My suggestion would be to reach out to carriers or insurance companies within the market for your niche and ask them if they can add a new product. If not you might just have to start your own insurance “company”.
@@christheinsuranceguy I appreciate the direction. Would the underwriters be who I would need to get in front of with my proposal.....how should I position this so I can capitalize?
Joe Woodfin I’m honestly not sure about that Joe. My intuition says it would be best to speak with someone in the company that is in charge of product development. My suggestion would be to try working with non-standard carriers as they have a lot more flexibility than the regulated admitted carriers. I’m sorry I don’t have more info to give me you on this.
Hey Chris, I really appreciate this video. I am a top producer for a major insurance carrier and have been working for someone else for 4 years doing all types of insurance.. Life, P&C as well as commercial. I have been blessed to have been able to write over 1000 policies per year for the last 3 years. I need someone to point me in the right direction to get an agency up and running. Please send me a message so I can please pick your ear about these things as-well as so I can go more in depth about myself. I think we would be able to have a great conversation. Thanks
Brandon All3n I personally would recommend the independent agency versus the franchise model. There is a lot more freedom in the independent side. On the down side there is very little support, it is lonely, and nobody to guide you.
@@christheinsuranceguy thank you for the reply. Coming from a multi unit restaurant owner to covid.. Has me leaning towards the insurance business. Thank you for your videos. Ill let you know what I decide 😁
I just passed my P&C and life (1st try) in Texas so that’s why I’m here. Thanks, every little bit of information helps
Congrats I failed twice haha. Let me know if there's a certain area you need more info on. I'll make more videos!
Its wild how much state/fed gate keep businesses lol. Great work.
I agree haha!
Chris The Insurance Guy! OMGGGG! Love ur vids. Been wanting to start my business for a while, and you made me take the leap! My life is changed forever thanks to YOU!!! Made my first MILL in 1 year!!!!! Cabo trip on me ;)
Hey, just following up on this. When’s the tripV
Hi Chris, Yes I would like more information on how to start my own insurance agency. Thanks
Shoot me an email: Chris@adelfiainsurance.com
Thank you for given us that amazing and helpful information
It is my pleasure isis. Hopefully it helps :)
dude your video was awesome,today i bought my E&O,Surety bond and i have my p&c,i still need a location currently looking,not much money to start it up but honestly man as soon as i was done watching your video i bought everything,i already had it in mind for the past week and your video just confirmed it...so thanks man,thank you for taking the time to even make this video
Dude that seriously pumps me up! I'm happy you actually took the leap and went for it. You're gonna do great in this business man!
@@christheinsuranceguy than you so much man I will definitely do my best by keeping it a clean business
p c great Best of luck man!
Very detailed and informative
Keep it up
Affordable insurance services
Thank you very much for this information. It has helped me a lot!
I’m happy to help!
Good content!! I appreciate your heart and knowledge to help people.
So helpful
This video was great man!!
Ryan Davidson I’m glad it helped Ryan!
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Hi Chris, I run a business where we do the marketing and sales. We typically partner with a certain type of business and just take a % on the backend.
Debating on branching out into a different industry. We have all of the framework that will help us cut a learning curve down tremendously. What are your thoughts about moving in this industry based in this?
Kyle Kotecha Hey Kyle, if you’re good at what you do with marketing and sales then you will love the insurance industry. That’s basically the main parts of what drives a successful agency in my opinion. Definitely worth considering jumping in!
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Thank you for the details Chris.
Great video! This was very helpful, Thank You.
Thanks! I'm glad this was helpful.
Wow very helpful, you made it very simple so thank you again
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Thanks Kevin!
Thank you! This is a lot of help!
I'm glad it helped!
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
I'll give you a call ,'), but seriously yes I am thinking of starting a insurance business and this was helpful. Ill be contacting you
Sounds good! Feel free to call or email anytime.
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Thanks you for this bro 🔥
Hello I started a new agency and trying to find a carriers for commercial trucking . How do you get set up with them we currently have 50-100 people a month asking for insurance through our dealership and through or finance company ..
Trucking carriers are mostly through non standard markets. The only good ones I know of that write trucking are AIG and Progressive which you might be able to get directly depending on which state you’re in
What’s up man. I am killing it right now am going to break 6 figures this year my first year as a p & c agent. I’ve been thinking about starting my own agency and really maximizing these commissions.
Dude that’s amazing! Just make sure running the agency is something you want to take on. It’s a bit of a different dynamic than just selling policies (servicing, hiring, training, accounting, marketing, etc). I’m sure you’ll crush if you decide to make the leap. Keep it up man!
Chris, love your vids. If you've talked about this before point me to the episode but would like your thoughts on We franchise or any insurance franchise versus an Alliance. Thanks in advance!
I have not talked specifically about that but I did do a video with a State Farm agent that dives into it a bit. The major difference is the freedom of being independent with an alliance. Franchises like State Farm or Farmers have a lot of restrictions. Here's the video, hopefully it helps! ua-cam.com/video/sI902_yqJzg/v-deo.html
Hi, when you say appointment. Do you mean, you work under a specific label? Or just generally your license allows you to make/tailor your own products?
An appointment is a contract with an insurance company that allows you to sell their products
Hi Chris - great video. Just subscribed. I have a very deep background in corporate finance and capital markets. I've worked with and sold insurance products over the years as they relate to wealth management. I'm an MBA and currently a CFA Level II candidate. My question is, do you recommend any particular niche industries or segments to pursue for someone with a corp finance/capital markets/CFA charter? Thanks
The riches are in the niches! It really depends which area of corporate finance. Maybe focusing on professional liability for lawyers, doctors, engineers, etc? Those commercial premiums can be pretty big and very lucrative if you can tap in, especially if you already have that client base. Otherwise I'd suggest trucking industry since premiums are huge.
Great video! Thank you
I’m glad it helped!
For car you can get limited licenses
Hey Chris, be crazy if you respond to this old of a video, but I'm a doctor looking to help with the health insurance issue in the U.S. First, I want to do auto insurance for something simpler before jumping into health. I don't want to sell someone else's product, so I've got a million liquid cash I want to use for the pool that claims would come out of. Besides getting a license "Property and Casualty" and then getting that approved at the Department of Insurance is that if for me to start writing up policies passing em by the lawyers and then selling them?
Hi Chris, your information is what I was looking for. I have my p&c license for 2 years now, but never worked for any agency, I am thinking to open my own independent agency. we do taxes at my office and I do have many clients interested on insurance. My questions is... do the insurance companies pay you depending on experience or if there any chart I can use to negotiate/calculate payments from them. also someone mentioned they'll ask me for a good business plan. I am in North Carolina.
Thank you.
I am in NC as well and have no experience. Did anyone ever answer this question for you?
oshitomaha nobody did, but I found out some good help that I can provide to you...
@@TheMbc1974 Hi. could you please share the information you obtained? I have been in the insurance industry for 3 years now, working for independent agencies but now I want to have my own.
So sorry for the late response Miguel. The answer is yes and no. Insurance companies don't typically pay you based on experience. Although, some agents who have been appointed/contracted with a company for many years (20+ years) sometimes have better commission %s than newly appointed agents. I've seen some getting 15% for auto and home, when I'm only getting 10%. I believe you can negotiate but you will need some type of leverage.
@@christheinsuranceguy Thank you so much!
This was super helpful
I’m confused man, so I’ve been writing life insurance for 2 years under an imo. I write a lot and have done well. I already have my e&o and bond and license. So, when you say “appointments” with the carriers, so you mean the same thing as if I went on my own to try to get contracted? Do I automatically make a full 140-150% commission for myself now that I have created my own imo? How does that work?
Yes at this point there’s nothing stopping you from going directly to the carrier and getting a direct appointment which will make u full commissions. You may just need to create a business entity and get a business entity license # with the department of insurance. Hope that helps! Feel free to email me or set up a consult call if you want more guidance down the road
@@christheinsuranceguy one last question, so if I go direct to the carriers after I make a business entity, and say it’s just me (I haven’t brought any other agents on yet), the carriers will magically give me full commissions merely because I created a business entity? Do they not need to see certain criteria first like a certain size book of business, certain number of agents, etc.?
Love this information, thank you
No problem! I'm glad it helped
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Very informative
So happy to help!
Hello! I have been working with an agent for a long over a year. I have my P&C license but I really would like to open my independent agency. I understand getting errors and omission, but I’m lost in what is needed next! I’m from Texas and I was looking into supremely access for my independent agency what do you recommend? I like working for myself and would like my own instead business.
Do you work for an IMO right now or are you a captive agent?
Hi Frances, that's awesome! There are a few steps you need to get going. Email me and I'll send you my eBook that gives you a step by step. Main things you need are: a business license, E&O coverage, Broker Bond (depending on the state), and an appointment (which is hard to get). I'd recommend checking out some alliances/clusters to help give you access. My email is Chris@adelfiainsurance.com
Captive agent with Farmers
@@MillennialvsGen2 I’m in Texas too. Send me an email andrewboutros at live.com and I’ll be able to help you out :)
can you start your own car insurance agency and use it as your insurance so you don't have to pay some other person?
Don’t you need an agency license as well? I just started mine all lines brokerage and I definitely needed the agency license
Kevin Blanc yes you also need the agency license if which you can apply to through the department of insurance. It’s usually around $300 I believe (might be different depending on the state)
Hello Chris thanks for the tips.I'm from Kenya Africa just about to start an Agency.But the laws here are little easy .thanks though
samuel jubilee that’s awesome Samuel! I hope you have a lot of success with your new agency. Good luck to you!
sam what are the key elements did you consider b4 setting up your firm now that we come from the same country
do you thing that buying a franchise will be better for someone that is stating on this business ?
Possibly. The big captive carriers like State Farm and farmers have great training. The only down side is that you’re limited to one carrier
Good video. I’ve came into the insurance business with this intention. I live in Louisiana and I’ve had a year of success as the number one agent in my company while somehow and very simultaneously getting my teeth kicked in lol.
Are you familiar with any of the steps that Louisiana would require?
i dont want an appointment. I was to fund myself either with bonds or investors. Do we have to have an appointment? Is this government required?
It sounds like you want to start an insurance company or “carrier”. This means that you’re going to pay out if there is a claim. Is that what you want to do? Or do you just want to be an agent who sells products of other companies?
@@christheinsuranceguy correct, carrier. As an agent you have no real power. Probably make great money but if you have all of this knowledge, why not startup your own carrier?
@@matthewalkman386 good point! Question is, where do you get $1mil to pay out if there is a massive claim?
@@christheinsuranceguy maybe start smaller with smaller claims - health insurance or something, not sure. It sounds like with all industries, the game is rigged, and banks remain in control. Have you ever tried to write a bond to back your loans and lines with the collateral as the business itself? There are ways to get heavy capital but yeah you would have to start small and build to a PUBLIC company and then have investors come in. Still a rigged game.
Hi Chris, are there companies that do not require you have a storefront or office location?
Hi Tara, most major carriers typically prefer that you have an office/storefront. I think things have changed a bit since covid though. The smaller carriers probably have more leniency
Can a trading Company take insurance if yes then what can be the premium of let's say their millions of loss???
I'm not sure what you mean by trading company. Please explain and I'm happy to answer
In the trading world. Your insurance is your SL where you stop out of the markets. Any losses the banks or firms take are on them. There is no backup plan to losing millions when trading.
I know its hard to say but a ballpark estimate would be great if anyone can help , but the question i have is working from home vs having a physical address can you expect to make the same amount of money or which one would y’all think has the advantage
houstonpromotion I’m probably biased because I got myself an office immediately when I launched my agency but I believe it has allowed me to grow faster and be more efficient with work schedule. I don’t think an office will make you more sales it’s more about the efficiency and mindset. I think a small office is worth the money!
How I can my insurance,software to control each transaction,and what else should I do
I'm not sure if I completely understand the question. My suggestion is to build out as much automation as possible to free up your time and allow you to focus on tasks that are impossible to automate (like personal touch on customer service or closing a large deal).
If I want to start my own insurance company from scratch,what are the most important things I should have and how much will they cost me
Good stuff man!
Thanks man! Glad it helped
Hey you want any kind of outsource like customer support or marketing please give me chance thanks.
Hey Chris cool video. Does your ebook go through this video in further detail?
Hi Avery! I'm so glad you liked it. Yes! The ebook explains the process in much further detail. Let me know if I can help!
How do we contact you for a consultation?
You can email me or go to my site ChrisCostantini.com
Just emailed you. I would love to hear more information about this. 🙏🏽
Great talking to you man!
Thanks so much
No problem, I'm glad you got some value!
So with a home based agency, how do you get people to sign up? Do your clients physically go to your home or do you meet them elsewhere?
You don’t really need to meet people in person to sell insurance. I’ve only had like 1 out of 100 customers come physically to my office.
@@christheinsuranceguy Really? How does that work then? How do people find out about your business?
Rogelio Barraza there’s a lot of different ways. What company do you use for your insurance? And how did you hear about them?
@@christheinsuranceguy I have Safeway Insurance. The agency was in front of my gym so I walked in.
Rogelio Barraza that’s interesting. I believe that we’re shifting heavily into digital presence and a majority of people just Google insurance or see advertisements online
Thank you so much for this video ! 🙏
Christopher Goody no problem! I’m so glad it was helpful
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance will work 100% for you thanks.
hi chris , how can i obtain more info and learning more
Hey hun you can reach to Jozebrain7 on Instagram he gives the best service you will ever want
Hey Toya, happy to help. You can email me, DM me on instagram, or check out ChrisCostantini.com
Hi Chris, using a cluster do you still need an office or you can work from home ?
It depends. There’s a lot of different clusters and each one has their own requirements. I’m guessing a lot of them would accept home offices
@@christheinsuranceguy I want to join siaa but for some reason I got denied . According to your videos you worked or still working with siaa Do you know anyone that I can contact?
@@chrisemch1 did they give you a reason for denying it? Feel free to shoot me a DM on Instagram or email
Great video! how are you doing so far in the insurance business?
We're about 1.5 years in and the book of business is growing! I hope the video helped :)
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
What is a broker bond?
It’s basically another form of insurance that covers contract obligations. Happy to go into more detail but a Google search would probably be best
@@christheinsuranceguy so is this to basically contract directly to the carrier? I thought you needed to write massive amounts of business to be contracted directly
@@kolehollis5852 no you can purchase a bond. It’s kind of like an insurance policy for a contract
Do you need a designation- cpcu to open an independent agency?
Felicia Berry hi Felicia, that’s a great question. You do not need a CPCU to open an independent agency. You will just need the state license and the other requirements to get appointed.
That’s good news. I’ve been thinking about starting my own insurance agency. I have all the licenses already. Thank you!
Hi Chris,
so i have my insurance broker licenses, i now want to open my own agency and get appointed with companies.
i have a s corp partnership setup, im a licensed owner but my partner is not licensed.
do i need to file paperwork for my dba first, or purchase e/o insurance first?
whats the next step i need to do?
I would purchase E&O insurance next and then get the appointment process started with the carriers that you want. The appointment process can be a bit challenging considering it’s a new agency and carriers like to see some volume on your book of business before giving out an appointment. I recommend watching the video I made about getting a carrier appointment
What state?
what CRM do you use?
I use Ezlynx
thank you so much ❤️👍
You're welcome Suhail. I hope this helped you!
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Hi Chris really enjoyed your video, I will be purchasing a computer/ laptop for my agency what size memory etc. do you recommend? I hope to have a least a few appointments to start. Thanks
Frank de Ferrante Hey Frank, if you’re the agency owner I’d suggest getting a good laptop this way you can work from anywhere. I use a MacBook Pro and for the most part it has been pretty compatible with all systems so far
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Sir I am from India and someone gave me a job offer that is also a insurance company who owned by single girl how to it is real or fake
Hi Dimpal, I'm not sure if I understand the question. Let me know if I can help.
Hi Chris ,
I will like to know if opening an insurance office possible .
Hi Chris ,
I was wondering if I could start an insurance agency from my home office ?
Sorry for the late response! You should be able to open an agency from home. It also depends, where are you located?
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Hey Chris! Do you still take phone calls?
Serge Karnaukh hey Serge, I do! Feel free to send me an email to schedule a call. My email is Chris@adelfiainsurance.com
I need to know how to launch a new type of insurance I thought of that is not a type already on the market. Any ideas on a starting point? Ide assume I need to apply with a federal agency for approval. I know I would need to create documents like regulations, liability etc but my idea could bring in over 18.6 billion a month in American alone.
That’s a great question. I don’t know the exact answer but my intuition says you should reach out to high level corporate executives at small/medium sized carriers. They would likely be the ones who are willing to add new products. The larger carriers would probably be hesitant. Also take a look at non-standard carriers. They will be the most willing to assume the new risk.
Hi Chris
Can I start selling from India
You will need to establish a legal business entity in the US first. (For example: an LLC or Corporation) Good Luck Jhunuka!
Great video, we will be in touch!
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Hi Chris, I am starting the process to become an Insurance Broker. I am a licensed P& C agent. Should getting my Errors & Omissions be my first step?
Frank de Ferrante yes next step would be to get appointed with a company to sell their products. This requires an E&O policy and a few other things mentioned in the video
Very helpful info for a starter. Im starting to save i want to open up my own agency ive seen some office spaces for about 49 a month but havent inquirred about it lol. Anywho, my question is how much is the bond? And what exactly is it for? I know as a license agent i should totallllly know haha
Office spaces for 49 a month sounds like a steal! Where are you located haha?
The bond is fairly cheap, I think $100-200/year. I'd Google it to get more details but this is what I found: "A surety bond is meant to safeguard consumers against brokers who operate in a fraudulent and/or unethical manner. When a broker violates the law, a client can make a claim against the bond and if it’s found to be valid, the client will be compensated." Hope that helps!
Thank you so much! It toally did. I believe it may be a virtual office from what ive investigated but not 100 on it. Im located in California about 20 minutes from LA. Thank you so mich for your response appreciate the prompt response. Looking forward to more content! 😁
Hey chris! Hope you arent too busy to offer me some advice. Ill get right to it, im seeking a new job. I am currently employed in an independent agency. Went to an interview today and it went great. Seems i havethe job if i want it. Heres the catch, id basically be an independent contractor through them, the pay is 50% from broker fees plus policy premium commission which as u know varies. Do you think its a good move for me? I do want to open up my own agency but from what ive seen i need to fix my credit first and foremost which is what im working on now. I just dont know if this is a good move for me and have nobody to talk to about it that could possibly give me some intake... haaalp as always your time and intake is most appreciated 😃😃😃 please give me advice!! Lol
Alejandra Orozco Hi Alejandra! I’m happy to give you my input :) it would really depend on a few things. I think some things to consider for the new job is the agency culture, the support they’re giving you with leads and closing deals, and obviously how much they’re offering for a commission split on premiums. Im not a huge fan of broker fees! As far as starting your own agency, it doesn’t require a ton of capital so if you’re willing to roll up your sleeves and get down in the trenches for a year or two, you can make it work (it’s definitely a grind lol). I hope that helps. Let me know if you have more specific questions about splits or culture and stuff!
Chris The Insurance Guy The agencyitself looksvery independent theydo provide leads the rater system emails and all thatgood stuff. I guess what im mostly worried about is the tax stuff and how much i will owe at the end of the year 😣 i would like to start my own agency i was thinkingof starting up working from home but not sure companies would give me apointments that way but you never know untilypu try right? Im determined to be a buisness owner eventually. Thank you for your intake !! :)
Hey Chris. I need help
Im intrested. Please help me get started in the right direction.
Lorie ovalle I’m happy to give any tips that I have. Send me an email if you can have questions
Hi Chris,
I just started an insurance agency late this year. I would love to if there’s anyway we can work together!
Thanks,
Gene
Hi Gene, please give me a call or send me an email. I'm sure there are some ways we can help each other out!
Hello gene,
I also want to start my company and want someone’s who can help me out .
jashan uppal let me know if you have any questions! Happy to help
Think about starting my own agency i have the license for p& and L & H. I have been working as an agent for someone else but I'm ready help please to take the next step to jump in
@@leannabrentsfamily6861 working for someone else In insurance is a sure way to give up all of your renewals
I'm a entrepreneur and small business owner....I have stumbled across a niche market that I would like to develop an insurance product for...any advice where to start?
Joe Woodfin Hi Joe it seems like you’re looking to be the actual insurer. This is different than being the agency/broker. My suggestion would be to reach out to carriers or insurance companies within the market for your niche and ask them if they can add a new product. If not you might just have to start your own insurance “company”.
@@christheinsuranceguy I appreciate the direction. Would the underwriters be who I would need to get in front of with my proposal.....how should I position this so I can capitalize?
Joe Woodfin I’m honestly not sure about that Joe. My intuition says it would be best to speak with someone in the company that is in charge of product development. My suggestion would be to try working with non-standard carriers as they have a lot more flexibility than the regulated admitted carriers. I’m sorry I don’t have more info to give me you on this.
Hey Chris, I really appreciate this video. I am a top producer for a major insurance carrier and have been working for someone else for 4 years doing all types of insurance.. Life, P&C as well as commercial. I have been blessed to have been able to write over 1000 policies per year for the last 3 years. I need someone to point me in the right direction to get an agency up and running. Please send me a message so I can please pick your ear about these things as-well as so I can go more in depth about myself. I think we would be able to have a great conversation. Thanks
Can you send me an email? Lets set up a time to chat. Chris@adelfiainsurance.com
This is my current situation and how I found this video
Very informative! This video is a year old, may we still contact you for help?? I’d greatly appreciate it.
oshitomaha of course, contact me anytime at chris@adelfiainsurance.com
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
How much would you say the start up cost is?
Ms J I made another video on this specifically. Check it out!
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
How can i contact you
You can email me at Chris@adelfiainsurance.com
Any recommendations for E&O ?
Frank de Ferrante yes email me chris@adelfiainsurance.com if you’re in CA I can write you a policy
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
I have experience from Bangladesh
Nice Neamul!
Hello, I am interested I starting my own business in insurance. How can I get in contact with you ?
Feel free to send me an email chris@adelfiainsurance.com
Email me as well shanaycookphp@yahoo.com I’m apart of the business as well.
Hi great video I’m looking to open a Insurance business in Tampa Florida
Rene Lopez that’s awesome man. You can do it if you’re determined!
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Are you still offering coaching sessions?
prince s I unfortunately don’t offer free coaching but will probably do a free call give away one of these days!
@@christheinsuranceguy ok thanks
Hey I am amit from india . you want any kind of outsource like customer support or marketing please give me chance thanks.
Would you recommend a franchise type of insurance vs starting on your own?
Brandon All3n I personally would recommend the independent agency versus the franchise model. There is a lot more freedom in the independent side. On the down side there is very little support, it is lonely, and nobody to guide you.
@@christheinsuranceguy thank you for the reply. Coming from a multi unit restaurant owner to covid.. Has me leaning towards the insurance business. Thank you for your videos. Ill let you know what I decide 😁
Hey Chris I came across your page can you help me start my business please
Hey Cindy, would be happy to help. Feel free to send me a direct message on Instagram @christheinsuranceguy
Awesome I will so tomorrow thanks.
Do you need a college degree?
Absolutely not
Nope!
PHP says you can start an agency today
sychophantt are you going to do it?
@@christheinsuranceguy NO. I am into sales and marketing not recruiting people.
sychophantt that’s great!
What’s your email?
gpc gang chris@adelfiainsurance.com
You need better audio, Chris.
August Oliver lol you’re right. This video was made before I discovered Mic’s
Hey Man, Id love to talk to you over email or a phone call. I am an agent for Mutual Of Omaha.
How do I contact you?
Send me an email or give me a call!
Chris@adelfiainsurance.com
or
(310)747-4157
Kovu i do not unfortunately. Feel free to email or call though.